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Mortgage Refinance

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Best Mortgage Refinance Programs

When is it a good time to refinance your mortgage? If your existing mortgage rate is higher than the current rate for your credit score and mortgage type, you need to explore it. Would you like to lower your mortgage payment to make your house more affordable? Are you considering updates to a kitchen or a bathroom, and want to get some extra cash to afford them?

Before you stop off at the local bank to discuss home refinancing you should consider comparing refinance options online. Just visiting your local bank won't give you your best rate, which means you'll pay more. Refinancing your home through an online mortgage refinance company lets you quickly find the best rate given your credit worthiness, loan size and type.

The best refinance companies allow several banks to compete for your loan, in order to provide you the lowest mortgage payment. They save you the hassle of calling several banks and lending institutions, and completing multiple refinance applications.

But not all online mortgage refinance brokers are the same. Before you start your search you should consider the following:

Application process. What is the process of gathering the information needed to begin the mortgage search?
Number of Lenders. How many banks and lenders does the company work with to find you the best rate? The larger the number, the more likely you'll receive the best rate.
Timeliness. Are you going to have to wait for a call to discuss all of the necessary details, or will the online application expedite the process and provide you the details you're looking for?

TopConsumerReviews.com has reviewed and ranked the best online mortgage refinance providers available today. We hope these reviews help you as you decide to refinance your mortgage!

Mortgage Refinance Reviews

LENDING TREE

In business since 1996, Lending Tree has built a superior website that streamline the refinance process. The number of lender relationships, the helpful tools, the professionalism and additional services all make Lending Tree stand ahead of their competition. Read More...

QUICKEN LOANS

Quicken Loans has a history of closing loans fast. Many loans close between 2-4 weeks, and are much quicker than the majority of lenders. We would have liked to have seen more information provided online, but we appreciate the solid reputation and excellent customer service at Quicken Loans. Read More...

LOAN APP

In business since 1992, Loan App matches customers with up to 4 lenders to help meet their personal refinance needs. The Loan App website was missing important information about the company, the refinance process, the lender network and any associated fees. Read More...

MORTGAGE SEARCH 123

Mortgage Search 123 lacked the necessary credentials and information we were looking for to become comfortable with providing them any of our personal information. We also didn't like that their only focus was on saving homes from foreclosure. Read More...

LOWER MY BILLS

Lower My Bills left us disappointed with the results their website provided. After taking the time to complete personal information regarding our mortgage, employment history and more we received four links to more websites where we had to start the inquiry process all over. Lower My Bills left us in the dark and wondering what they did with our personal information. Read More...

Tips on Refinancing Your Mortgage

Record low interest rates are pushing people to consider refinancing their home mortgages. There are several reasons to consider refinancing your home.

Lower your interest rate. With decreasing interest rates, you can lower your monthly payment and the amount you pay in interest over time on the amount of your mortgage. Once you refinance, it's easy to want to refinance every time the interest rates drop. However, by doing so, in the long run you will end up paying more in closing costs. Consider only financing when you can save 2 percent or more in interest.
Get a different type of loan. Your current mortgage may no longer be suitable or financially viable. For instance, if you currently have an Adjustable Rate Mortgage (ARM), you may want to switch to a Fixed Rate Mortgage to lock in low interest rates.
Rid yourself of a balloon payment. If your current mortgage requires payment of a large balloon payment at the end of a specified period of time, you may want to refinance and negotiate a different type of loan so that you're no longer required to pay a balloon payment.
Consolidate debt. With record low interest rates, now is an excellent time to refinance your mortgage and consolidate some of your other debt into a home loan with a lower interest. Other types of debt such as car loans, credit card bills and school tuitions, typically have higher interest rates than home mortgages. These, as well as other types of debt, can be rolled into your home mortgage allowing you to take advantage of the lower interest rates than what these loans have.
Cash in on home equity. You may want to refinance in order to get cash out of your home equity for large expenditures such as a child's college tuition, home remodeling projects or a new car purchase.

Homeowners may face many challenges in the refinancing process. Low credit scores and depreciating property values can keep you from getting the refinancing you desire.

Also, there are times when it is best not to refinance. For example, if you anticipate moving or selling your house before you experience significant savings from refinancing then it might not be the best time to refinance. On the same note, if you've paid into a 30-year mortgage for 15 years or more, and you're considering refinancing into another 30-year mortgage, refinancing may not be the right answer as this option may end up costing you more in the end.

Refinancing your mortgage can save you money. Be sure it's the right option for you by researching terms and interest rates online before you sign on the dotted line.

New mortgage refinance program available
The Oregon Housing and Community Services (OHCS) department and Sen. Jeff Merkley, D-Ore., announced the launch of a pilot program designed to provide lower interest loans to Multnomah County homeowners whose mortgages are higher than their homes are worth. The Rebuilding American Homeownership Assistance Pilot Program began accepting applications online at noon Wednesday, June 12. This program ...
Publication Date: Sat, 15 Jun 2013 10:08:44 GMT

Home Mortgage Refinance Company, Rate State, Hires New Marketing Firm in June 2013
Rate State has hired a new marketing firm to help them connect with home buyers and home owners. They plan to move forward with a new marketing plan starting this June.
Publication Date: Thu, 13 Jun 2013 08:23:48 GMT

Home Mortgage Refinance Market Affected by President Obama's Plan to Help Home Buyers and Re-financiers
Rate State shows how home owners are affected from the Presidents plan to help responsible homeowners and heal the housing market in their latest news post.
Publication Date: Wed, 12 Jun 2013 08:34:05 GMT

Low Rate Home Mortgage Refinance Opportunities Slipping According to Rate State's Latest News Release
Homeowners may be missing out on the mortgage/refinance of the decade with current market conditions. Leading mortgage refinance company, Rate State, suggests consumers get a loan before rates begin to spike.
Publication Date: Tue, 11 Jun 2013 08:23:53 GMT

Mortgage Refinance Applications Are Crumbling
Should you be worried about it?
Publication Date: Thu, 06 Jun 2013 17:40:01 GMT

Home Mortgage Refinance Rates Drop Through Rate State's Quote Comparison Tool in June 2013
Mortgage Refinance giant, Rate State, announces a decrease in mortgage rates through their easy to use mortgage comparison tool.
Publication Date: Thu, 06 Jun 2013 08:18:05 GMT

2013 Best Picks for Mortgage Refinance Revealed by TopConsumerReviews.com
TopConsumerReviews.com recently revealed their best picks for Mortgage Refinance for 2013.
Publication Date: Fri, 31 May 2013 10:42:06 GMT

Mortgage Search 123 Mortgage Refinance Service Reviewed By TopConsumerReviews.com
TopConsumerReviews.com recently reviewed the Mortgage Search 123 mortgage refinance service.
Publication Date: Thu, 23 May 2013 09:23:58 GMT

Mortgage Refinance Rates Hit 3.6% for 30 Year Fixed Home Loans On Consumer Daily
The Milwaukee Journal-Sentinel stated Low Rates Sparking a Surge In Refinancing. Homeowners may calculate their new mortgage interest rates and savings here .
Publication Date: Wed, 22 May 2013 11:27:19 GMT

Loan App Mortgage Refinance Service Reviewed By TopConsumerReviews.com
TopConsumerReviews.com recently reviewed the Loan App mortgage refinance service.
Publication Date: Mon, 20 May 2013 09:39:48 GMT

Ziegler Closes $5.7 Million Section 207/223(F) Refinancing Utilizing HUDs New 202 Refinancing Policy
Ziegler Financing Corporation (ZFC), the FHA-insured mortgage lending arm of Ziegler, is pleased to announce the successful closing of the $5,680,000 refinancing of a Section 202 affordable housing property, Presidio Gate Apartments, owned and managed by Lytton Gardens Senior Communities (LGSC), an affiliate of Episcopal Senior Communities (ESC).
Publication Date: June 18, 2013

Factors Changing Mortgage Rates Covered By Rate State's Latest Article
Rate State (at http://www.ratestate.com (http://www.ratestate.com)) explains the prominent factors in the recent changes seen by mortgage rate shoppers in their latest article.
Publication Date: June 18, 2013

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